Originally posted by @Colleen F.:
@Account Closed an interesting take on your 50/60s economic statement dates but still relevant points
If High Taxes In The '50s And '60s Produced Good Growth, Then Let's Have High Taxes Again (forbes.com)
Not sure how long 1031 has been around but stepped up basis has been around since the 70s. It benefits the intergenerational transfer of small businesses and family homes. Not sure there is a benefit to change that, to fund what? I am a little concerned that none of the changes talk about simplification of tax code or simplifying this complex social safety net that is now being called infrastructure.
I dont think that the correlation is causation and of course economic growth is driven by many factors. The post WWII environment was hugely favorable to the US for many reasons. The takeaway is that the taxes did not in any way HAMPER the economic growth. And what they did prevent was the ridiculous wealth gap we now see and enabled huge investments in infrastructure (like the entire interstate, railroads, electrification, telecommunications etc etc) that we still rely on today.
For all the whining about changes in tax policy for real estate or capital gains, there is no historical evidence to suggest it will dramatically change the trajectory of the market.
I will be affected personally like many other investors here and of course Id like to keep more money in my pocket. But I dont believe all this Chicken Little crap about the end of the world as we know it.